Young business owners on the rise

West Sweden is leading the way when it comes to young business owners. More young people than ever before are starting their own businesses here, according to a report from Visma, a company that makes bookkeeping programs for small and medium sized companies.

The most popular sectors are computer programming and performing arts.

"We believe that today it is more accepted among young people to start your own business. It's a way to get out of unemployment and instead of waiting for someone to offer you a job," says Rolf Dahlberg, CEO at Visma to Göteborgs-Posten.

In West Sweden the most popular sectors are computer programming, performing arts, hair care, beauty care and body care. Hair care is the most popular sector among young business owners nationwide.

During 2011, the number of young business owners increased the most in the counties Jämtland, Värmland and Halland on the west coast. The Västra Götaland County, which includes Gothenburg, is ranked 12th. The number of young business owners in Västra Götaland increased by 16.5 per cent last year.

39.4 per cent of the sole-trader companies that were started by young people last year are run by females. In Västra Götaland, the number of female ownership is even higher, 40.3 per cent.

According to the organisation Tillväxtanalys, 55 per cent of the businesses with owners under 26-years-old survive. For people older than 26, two thirds of the companies survive.

"Starting your own business can be something to try in-between education programmes and a good experience that increases your preconditions to succeed later in life. You learn what it takes and it does not have to be seen as a failure if your company is closed-down," says Peter Vikström, manager at the department for entrepreneurship and business sector at Tillväxtanalys.